All Forum Posts by: QuoVadis Gates

= Deal #1:

• Location: __________ 333- Message Me

• Price: __________
• Acquisition: __________
  • Loan: __________
  • Down Payment: (20%) - __________
  • Closing Cost – (3%) – __________
    
• Due At Closing: __________
• Rehab Estimate: __________
• After Repair Value: __________
  
• Equity: __________
• • Income:
  • • Rent: __________
    • Washer/ Dryer: __________
    • Parking: __________
    • Storage: __________
• Monthly Gross: __________
• Expenses:
  
• Mortgage: __________
• Gas: __________
• PMI: __________
• Garbage: __________
• Electricity: __________
• Water & Sewer: __________
• Taxes: __________ /12 = __________
• Insurance {$100} /12 = $8.34
• Monthly Expenses: __________
• Expenses:
  • Vacancy {5-10%}- __________
  • Repairs and Maintenance {10%} - __________
  • Cap Ex - {Capital Expenditures} {8%} - ________
  • Management {10%} - __________
    
• Operating Expenses: __________

{Optional}

• Future Assumptions:
• Annual Income Growth: {2%}
• Annual PV Growth: {2%}
• Annual Expenses Growth: {2%}
• Sales Expenses: {9%}

Totals:

• Monthly Income: __________
• Monthly Expenses: __________
• Monthly Cash Flow: __________
• Total Cash Needed: __________
• Cash On Cash Return: __________

I started and posted my deal analysis here on the BP forms, it was removed and the site's administrators informed me that it was of there opinion to be an advertisement for a potential sale.

I'm going to continue to analysis deals and store them, I'll post them to my facebook and I'll start a blog where they'll be kept. 

If you're interested my facebook is: QuoVadis Gates

Instagram: @QuoVadisGates

Slight obstacle but the project isn't over,

Thanks for your time;

- Quo

Currently on market, price point is reverent to area at $249,999; but I'm wondering if the lack on interest is because of the current Corona virus shutdown. 

I'm wondering if the lack of offers is because the current shut down with Corona.  

From the stand point of an Agent/ Broker who has already listed a property for sale. 

Is it ever good practice to raise listing price because you're comp sold for a higher price? 

Thanks for the advice can you send your spread sheet.

That would be a great help.

- Greatly appreciated, Quo 

Brandon Turner @BrandonTurner consistently ask of us listeners of PB podcast and webinars to Analysis deal, so for the next 30 consecutive days I'm going to analyze deals by hand to brush up and become well rounded in my investment pursuits. 

{I've invested without running numbers in the past, it wasn't the best of my decisions.} 

Here is a long hand template that I'll use:

= Analyze Deals:

• Identify:
• Property
• Price:
• Acquire:
• Down Payment
• Closing Cost
• Loan
• Transfer Stamps
• Taxes:
• Rehab Estimate:
• After repair value:
• Income:
• Monthly Gross:
• Rent
• Parking
• Washer/ Dryer
• Storage
• Advertising
• Expenses: {Fixed}
• Taxes
• Electricity
• Water & Sewer
• PMI
• Garbage
• HOA's
• Insurance {$100}
• Expenses: {Variable}
• Vacancy {5-10%}
• Repairs and Maintenance {8%}
• Cap Ex - {Capital Expenditures} {8%}
• Management {10%}

{Optional}

• Future Assumptions:
• Annual Income Growth: {2%}
• Annual PV Growth: {2%}
• Annual Expenses Growth: {2%}
• Sales Expenses: {9%}

Totals:

• Monthly Expenses:
• Monthly Cash Flow:
• Monthly Income:
• ______________
• Total Cash Needed:
• Cash On Cash Return:
• ROI:
• Cap Rate:

My first property was a multifamily house hack.

2 unit property my family and I lived in one unit and rented the other. We searched for 3 and 4 unit buildings, none of them made sense because they weren't where I wanted my family to live. so we settled on a 2 unit in the most desirable neighborhood on our list. It wasn't the 4 unit we dreamed of living rent free in but we paid half of what we would have paid in rent to live there so it made sense. We kept the building and still own it to this day.

PS. 

I check the comps regularly and it has appreciated well, it has been a good investment. 

I invest in multi-family, so far I have 2 and 3 unit properties.

I'm licensed as both a Residential and Commercial Broker so I can work in any form of real estate though. 

What your current interest ?  

Hey Ed, 

Welcome to Chicago, I've been an investor here for a bit and have recently been licensed as a Broker. Let me know if you need anything.

- Quo